In this chapter, we present a new approach to simultaneously estimate the stacking velocity and zero-offset time of seismic wave propagation. This approach includes the following steps: preprocessing to extract structure, application of several subspace methods (ESPRIT, MUSIC, and Minimum Norm) to estimate the time delay at each sensor, and postprocessing to estimate the stacking velocity and zero-offset time. The advantages of this proposed approach are high resolution and less computation.